Integrated Wealth Concepts LLC Acquires New Position in Weis Markets, Inc. $WMK

Integrated Wealth Concepts LLC acquired a new stake in shares of Weis Markets, Inc. (NYSE:WMK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,159 shares of the company’s stock, valued at approximately $4,006,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Weis Markets in the second quarter worth about $95,417,000. California State Teachers Retirement System raised its position in shares of Weis Markets by 8,386.8% in the second quarter. California State Teachers Retirement System now owns 1,073,239 shares of the company’s stock valued at $84,045,000 after purchasing an additional 1,060,593 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Weis Markets during the 2nd quarter valued at approximately $21,131,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Weis Markets by 2,228.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 171,930 shares of the company’s stock valued at $11,758,000 after buying an additional 164,546 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Weis Markets by 77.2% in the 3rd quarter. Millennium Management LLC now owns 257,715 shares of the company’s stock worth $18,522,000 after buying an additional 112,265 shares during the period.

Weis Markets Stock Performance

Shares of WMK opened at $72.10 on Friday. The stock’s 50-day simple moving average is $74.22 and its 200 day simple moving average is $72.59. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 17.89 and a beta of 0.43. Weis Markets, Inc. has a 52-week low of $59.99 and a 52-week high of $83.74.

Weis Markets (NYSE:WMK) last issued its earnings results on Tuesday, August 4th. The company reported $0.92 EPS for the quarter. The business had revenue of $1.28 billion during the quarter. Weis Markets had a return on equity of 7.40% and a net margin of 1.99%.

Weis Markets Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, July 27th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, July 27th. Weis Markets’s dividend payout ratio (DPR) is 33.75%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Weis Markets from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 31st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

About Weis Markets

Weis Markets, Inc is a food retailer that operates supermarkets under the Weis Markets name. The company sells a broad selection of grocery products, including fresh produce, meat and seafood, dairy items, bakery goods, prepared foods, packaged foods, beverages and household products. Many locations also offer pharmacies, fuel stations and other convenience services.

Founded in 1912 by brothers Harry and Sigmund Weis in Sunbury, Pennsylvania, the company has grown from a regional grocery business into a supermarket operator serving communities primarily in Pennsylvania, Maryland, Delaware, New Jersey, West Virginia and Virginia.